[Federal Register Volume 70, Number 112 (Monday, June 13, 2005)]
[Notices]
[Page 34177]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-11657]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

June 7, 2005.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before July 13, 2005, 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0152.
    Form Number: IRS Form 3115.
    Type of Review: Extension.
    Title: Application for Change in Accounting Method.
    Description: Form 3115 is used by taxpayers who wish to change 
their method of computing their taxable income. The form is used by the 
IRS to determine if electing taxpayers have met the requirements and 
are able to change to the method requested.
    Respondents: Business or other for-profit, individuals or 
households, not-for-profit institutions, farms.
    Estimated Number of Respondents/Recordkeepers: 25,000.

                                 Estimated Burden Hours Respondent/Recordkeeper
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                                                                 Learning about the law   Preparing and sending
                 Form                       Recordkeeping             or the form          the form to the IRS
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3115.................................  38 hr., 29 min.........  19 hr., 54 min.........  23 hr., 48 min.
Schedule A...........................  3 hr., 21 min..........  1 hr., 51 min..........  3 hr., 11 min.
Schedule B...........................  1 hr., 25 min..........  30 min.................  33 min.
Schedule C...........................  5 hr., 1 min...........  45 min.................  2 hr., 4 min.
Schedule D...........................  27 hr., 30 min.........  1 hr., 59 min..........  2 hr., 31 min.
Schedule E...........................  3 hr., 49 min..........  1 hr., 59 min..........  2 hr., 8 min.
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    Frequency of Response: On occasion, quarterly, other (when needed).
    Estimated Total Reporting/Recordkeeping Burden: 1,388,850 hours.

    OMB Number: 1545-1633.
    Regulation Project Number: REG-209121-89 Final.
    Type of Review: Extension.
    Title: Certain Asset Transfers to a Tax-Exempt Entity.
    Description: The written representation requested from a tax-exempt 
entity in regulations section 1.337(d)-4(b)(1)(A) concerns its plans to 
use assets received from a taxable corporation in a taxable unrelated 
trade or business. The taxable corporation is not taxable on gain if 
the assets are used in a taxable unrelated trade or business.
    Respondents: Business or other for-profit, not-for-profit 
institutions.
    Estimated Number of Respondents: 25.
    Estimated Burden Hours Respondent: 5 hours.
    Frequency of Response: Other (once).
    Estimated Total Reporting Burden: 125 hours.
    Clearance Officer: Glenn P. Kirkland, (202) 622-3428, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.
    OMB Reviewer: Alexander T. Hunt, (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

Lois K. Holland,
Treasury PRA Clearance Officer.
[FR Doc. 05-11657 Filed 6-10-05; 8:45 am]
BILLING CODE 4830-01-P